EmailExxon Mobil (XOM $81.52 -2.1%) reported second quarter earnings of $2.18 per share, excluding non-recurring items, $0.15 worse than the Capital IQ Consensus Estimate of $2.33.
Revenues rose 35.7% year/year to $125.49 billion versus the $136.65 billion two estimate avg.
Company says "ExxonMobil recorded strong results during the second quarter of 2011, while investing at a record level of over $10 billion to develop new supplies of energy to meet growing world demand. Second quarter earnings of $10.7 billion were up 41% from the second quarter of 2010, reflecting higher crude oil and natural gas realizations, improved Downstream results and continued strength in Chemicals. First half 2011 earnings of $21.3 billion increased 54% over the first half of 2010. In the second quarter, capital and exploration expenditures were a record $10.3 billion, up 58% from the second quarter of 2010. Oil-equivalent production increased by 10% over the second quarter of 2010, driven by our world-class assets in Qatar and our growing unconventional gas portfolio. The Corporation returned over $7 billion to shareholders in the second quarter through dividends and share purchases to reduce shares outstanding."
